UAE Strengthens Position as Key Global Financial Hub, Driving Regional Economic Growth
As of September 2024, Dubai ranks 16th in the Global Financial Centers Index (GFCI). Since the establishment of the Dubai International Financial Center (DIFC) in 2004, the UAE has distinguished itself as the Middle East’s leading financial hub, offering a premier platform for financial institutions to thrive.
UAE’s Economic Agenda D33 aims to make Dubai the world’s fastest, safest, and most connected city. Dubai’s ambitious plan to double its GDP and FDI to 32 trillion AED and 650 billion AED by 2033 is supported by substantial investments in innovation and technology, including fintech, artificial intelligence, and blockchain.
In addition to Dubai’s technological investments, the UAE’s financial policies also create a highly competitive business environment with tax exemptions, free zones, FDI incentives, transparency, and robust regulations, offering numerous advantages such as 100% foreign ownership and an efficient infrastructure for business setup.
As a reflection of the UAE’s increasing prominence as a global financial center, StoneX Financial Ltd, a subsidiary of StoneX Group Inc., will be hosting a conference on November 21, 2024 dubbed Navigating Change: The UAE’s Role as a Key Financial Centre. The conference will highlight Dubai’s pivotal financial role and give attendees an in-depth view of the financial markets from a global and UAE perspective.
The UAE’s strategic location as a trade gateway between the East and the West – connecting Europe, Asia, and Africa – alongside its exceptional security, world-class infrastructure, and the Economic Agenda D33, has set the region on a trajectory to join the world’s top four financial hubs.
“With over 100 years of connecting clients to global markets, StoneX’s presence in Dubai aligns well with the UAE’s growth trajectory and the goals of the D33 Agenda”, confirms Ritu Singh, Regional Business Director at StoneX Financial Ltd. She adds: “We’ve been in the market since 2006, and throughout this time, we always believed in Dubai’s growing potential as a world-class financial hub, which drove us, at several occasions, to host premier industry events that showcased the Emirate’s immense potential and numerous opportunities in the financial sector”.
Singh continues: “Through global economic challenges, the UAE has shown resilience and maintained strong growth, reinforcing its position as an attractive venuefor investors. The country’s robust infrastructure, strategic location bridging global markets and long-term vision are expected to further elevate the UAE’s standing as a financial hub on the global stage.”
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Last Updated on 3 weeks by News Desk 1
